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Revenues at WPP, the world’s third largest communications group, exceeded £1 billion in the third quarter as the global advertising recovery gathered momentum. The company said today that revenues, in constant currencies, rose 10% to £1.03 billion reflecting the acquisition of Cordiant Communications (see WPP Completes Cordiant Acquisition) and the weakness of the dollar. On… Continue reading WPP Enjoys Healthy Third Quarter

Granada chief executive, Charles Allen, could follow Carlton’s Michael Green in being forced out by rebel shareholders unless he succeeds in improving the financial fortunes of the merged ITV over the coming months. Allen has been earmarked to become chief executive of the ITV company that will result from the £4.5 billion merger of Carlton… Continue reading Investors Pressure Allen To Improve Fortunes At ITV

Revenues at information group Reuters continued to fall in the third quarter of 2003 but the company says it is delivering ‘according to plan’, despite unfavourable market conditions. Reuters said that core revenues were down 12% to £658 million in the three months to 30 September, slightly ahead of forecasts. Recurring revenue from subscription products,… Continue reading Reuters Results Better Than Expected

Entertainment giant Viacom saw profits grow by 9% in the third quarter on the back of an advertising upturn, notably at the group’s cable division. The US company, which owns the MTV, Nickleodeon and CBS Networks, yesterday reported net income of $700 million for the three months to September. This is up from $640 million… Continue reading Fruitful Third Quarter For Viacom Empire

Powerful institutional investors at Carlton and Granada are calling for more radical cost cutting at the merged ITV plc, just days after forcing the resignation of Michael Green as chairman designate of the company (see Green Relinquishes Role As ITV Chairman Designate). It is understood that shareholders, led by Fidelity and Standard Life, believe that… Continue reading Investors Call For Radical Cost Cutting At Merged ITV

Scottish Radio Holdings has expanded its presence in Ireland by capturing the Dublin radio station FM104 for €26 million. The acquisition of Capital Radio Productions, which operates the station, will be partly funded through the issue of new shares with the balance of 55% paid in cash. SRH already owns one radio station, Today FM,… Continue reading SRH Swoops For Dublin Station

Profits at media giant Time Warner climbed beyond $500 million in the third quarter of 2003 but the performance of the company’s online unit continues to be a cause for concern. The group said yesterday that revenues were up 4% to $10.3 million in the three months to September with the cable and networks divisions… Continue reading AOL Troubles Still Dog Time Warner

Concerns are growing that the dispute between shareholders and ITV’s management designate could flare up again over the the terms of Charles Allen’s pay contract with the newly merged company. An influential group of institutional investors yesterday forced Carlton boss Michael Green to relinquish his role as chairman of the ITV company that will result… Continue reading Allen Deal Could Spark Fresh Shareholder Dispute

Future Network has increased its influence in the videogames magazine market by reaching a deal to acquire Computec Media UK for £3.2 million. CMUK publishes the unofficial Playstation magazine, PSW, which has an average monthly circulation of more than 50,000, and Xbox World, which has sales of over 25,000 copies a month. Under the terms… Continue reading Future Expands Games Magazine Portfolio

International sales helped to boost pre-tax profits at magazine publisher Haymarket by 22% in 2002, the company has announced. Haymarket said the figure rose from £20.4 million in 2001 (see City News) to £24.9 million last year. Group revenues totalled £172.3 million, up 6.8% overall. The company publishes more than fifty business and consumer magazines… Continue reading Haymarket Reports Growth In Profits